Zima the NBU: how dubious actions of the chief lawyer harm the reputation of the regulator

The National Bank of Ukraine (NBU) plays a key role in ensuring the stability of the state's financial system. However, the actions of individual officials can seriously undermine confidence in the regulator. One of these figures is the director of the legal department of the National Bank Alexander Zima, whose actions raise numerous questions not only among experts, Business  and civil society, but also among law enforcement officers. NBU governor Andriy Pyshny must demonstrate responsibility and determination by dismissing Zimу from office .

Alexander Zima has repeatedly become a central figure in scandals that call into question the objectivity and legality of his decisions. The most high-profile case was the liquidation of Concord bank. The courts of the first and appellate instances found that the decision to revoke the license and liquidate the bank was illegal. Despite this, it was under the leadership of Zima that the NBU's legal department not only made dubious decisions, but also resorted to manipulation, in particular, it recommended that the Deposit Guarantee Fund of individuals withdraw the bank's claims against the NBU.

Criminal proceedings were even opened against Zima for such abuse of office. In particular, the case was opened because of A Letter  from Alexander Zima to the Fund, in which he, on behalf of the National Bank, recommended that the DGF withdraw claims filed by Concord Bank against the NBU even before the decision to liquidate the bank.

The deposit guarantee fund listened to this recommendation, which, according to Elena Sosedka, co-founder of Concord bank, deprived shareholders of their constitutional right to a fair trial.

The criminal proceedings against Zima were held in the state Bureau of Investigation for more than 9 months and during this time no investigative actions were carried out on it. Concord co-founders Elena and Yulia Sosedki have repeatedly demanded that investigators recognize them as victims in this case and even received appropriate court orders. However, these requirements were ignored.

The shareholders hoped for progress in the investigation after the prosecutor's office referred the case to the Pechersk Police Department for investigation. 

After that, investigators recognized Elena and Yulia Sosedki as victims in the Winter case, which automatically confirmed that the official's actions caused harm. Experts interviewed by UNN indicate that The Next Step in the investigation of this criminal proceeding should be to interrogate winter and serve him with a notice of suspicion.

Zima's actions also harmed the state. After all, they call into question the independence of the DGF Directorate and negatively affect Ukraine's interaction with international financial institutions. In particular, this may cause serious concern to the International Monetary Fund, which pays special attention to the work of the financial sector of our country. 

Such actions not only undermine the regulator's reputation, but also set precedents for abuse and violations of laws.

The National Bank should be a symbol of stability, transparency and professionalism. However, the presence of people with dubious reputations in its governing bodies casts a shadow on the entire institution. Winter's actions lead to a loss of trust on the part of businesses, international partners and citizens.

The existence of criminal proceedings on the fact of abuse of office in winter directly contradicts the principles of integrity, which should be the basis for working in the regulator.

As the head of the NBU, Andriy Pyshny is responsible for ensuring confidence in the regulator. Its task is not only to reform the system, but also to demonstrate determination in overcoming internal problems. The dismissal of Alexander Zima would be an important signal that the National Bank is ready for changes and will not tolerate any violations.

It could also be a positive signal for international partners who are closely monitoring the transparency of Ukrainian institutions, especially in times of war.